Amended Notice of Assessment:

Broadly speaking, a Notice of Assessment is an assessment made of a person’s taxable income and the of amount tax payable. The assessment of a person’s taxable income is usually based on the information provided in their annual tax return. The Notice of Assessment provided by the Australian Taxation Office will advise you how much tax you need to pay, or the amount of the tax refund that you may be entitled to.

In certain circumstances, the ATO can ‘amend’ your Notice of Assessment. The ATO can issue you with an amended Notice of Assessment where an audit has been conducted that has resulted in a different assessment of your income. If you receive an amended Notice of Assessment it may mean that you need to pay more tax, or that you are entitled to a refund as a result of the amendment.

Usually, if you are an individual taxpayer, the ATO can amend your original Notice of Assessment for a period of up to two years after your original assessment is made. If you are a business taxpayer, or an individual tax payer with more complex tax affairs (for example where you are a beneficiary of a trust) the ATO can amend your Notice of Assessment for a period of up to four years after your original Notice of Assessment has been issued. If you do not agree with the amended Notice of Assessment that has been issuesd to you, you can lodge an objection with the ATO. 

There are a variety of reasons why you may be issued with an amended Notice of Assessment by the ATO. If you are issued with an amended Notice of Assessment by the ATO, we recommend that you seek tax advice on the amended assessment as soon as possible as generally there are time limits that you must adhere to if you wish to object to the Notice of Assessment.

At Navado, we have an experienced team of tax lawyers who can advise you on the effect of your notice of amended assessment. Our Sydney taxation lawyers can assist you in drafting, preparing and lodging an objection to your amended notice of assessment if you do not agree with the decision of the ATO.

Our dedicated taxation lawyers can provide you with quality legal advice and assist you to fulfil your taxation obligations. To organise a consultation with one of our tax solicitors, please contact us on (02) 9233 4048 or email us on info@navado.com.au.

This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.